"Leaning on this money machine sends the economy into a tailspin, giving the mullahs much needed motivation to negotiate in earnest."
"As Iran's oil exports collapse, there'll be no cash for imports, so activity implodes, the currency goes into a devaluation spiral and hyperinflation ensues."
"Residents of Tehran and other cities told Reuters some prices have shot up around 40% since the war began, as the rial has plunged 8% against the dollar on the black market."
"The economic consequences of a blockade are so dire Brooks declared 'there's no'."
The U.S. blockade on Iranian ports has begun, targeting Iran's oil revenue amid ongoing military conflict. The Iranian economy is already struggling, and the blockade could worsen conditions, pushing the regime to negotiate. Despite military losses, Iran retains missile capabilities to control the Strait of Hormuz. Economic hardship is expected to escalate, with hyperinflation looming as oil exports collapse. Prices in Tehran have surged, and the rial has significantly devalued against the dollar, indicating severe economic distress.
Read at Fortune
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